Author Topic: Best Financial Decision I Ever Made? Bought a Motorcycle  (Read 1248 times)

bluebelle

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Best Financial Decision I Ever Made? Bought a Motorcycle
« on: December 30, 2017, 01:47:40 PM »
okay, the title is a bit of click bait.....  :-)
But seriously, buying a new motorcycle 30 years ago ended up being the best thing for my finances because it made me examine where my money was going early in my working career.
Backstory:
I had been working full time in an entry level IT position for about 8 months, living with my fiancée (now ex-husband - but hey, that's a much longer story).  We decided we just had to have that shinny new motorcycle.....and of course, didn't have the saved money for it.   Stupid idea, I get it.....but what it did do, was make me sit down and think about where our money was going.....we couldn't account for nearly $1000 a month (30 years ago!).   My world was pretty cashed based 30 years ago, so I had no way of tracking where the money went.  It was going out in dribs and drabs, $30 here for movie, $20 there at a food court on a whim, probably too much takeout pizza, pull $20 out of the ATM any old time.  It was not having the ready cash to buy that bike that made me aware of the need to track and plan spending.  We set up a rough budget, and we only took cash out of the ATM once a week, and we each had X dollars to live out the week.  I think we set grocery at $75 a week and always had a surplus (that cash lived in an old coffee can and allowed me to take advantage of sales, or splurges).

Anyway, just curious, do any of you have a story that could have been your start to conspicuous consumerism, but instead, put you on the path to fiscal responsibility?

facepalm

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Re: Best Financial Decision I Ever Made? Bought a Motorcycle
« Reply #1 on: January 03, 2018, 02:07:56 PM »
So did you buy the bike? :-)

For me it wasn't the bike, but the desire to buy a new car that got the ball rolling. Once I expensed out the car, I saw that I was tossing away at least $500 a month on crap. This was about the same time I started reading MMM.

And yes, I did buy the bike.

bluebelle

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Re: Best Financial Decision I Ever Made? Bought a Motorcycle
« Reply #2 on: January 03, 2018, 03:13:29 PM »
yes, bought the bike.......

I fully admit that I am only semi-mustachian.  And I'm okay with that.   I spend on what is important to me, and what I get value from.  We save between 50-60% of our take home pay. 

Could we rachet down further?  Probably, would my DH rebel?  Definately.  Do we need to?  No.  DH is eligable for a DB pension in 28 months.  We'll retire then.

I know there are many views of what 'mustachianism' is, but what I got out of the original blog, was that it's important to be conscious of where the money is going, and to spend on what brings value to your life, not pinching every penny to optimize to the nth degree.

HipGnosis

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Re: Best Financial Decision I Ever Made? Bought a Motorcycle
« Reply #3 on: January 07, 2018, 08:17:29 AM »
You say "We decided we just had to have that shinny new motorcycle".
Did you ride (drive) it too?
Who got it when you divorced?
Do you still ride?

My first motorcycle was the only new vehicle I ever bought.  I had to get a new one because I couldn't get a loan for a used one - I didn't have enough of a down payment.

Now I'm shopping for my second new motorcycle - I can afford it (w/o a loan) and it will probably be my last one.
 

bluebelle

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Re: Best Financial Decision I Ever Made? Bought a Motorcycle
« Reply #4 on: January 07, 2018, 05:50:54 PM »
I still ride, but not that bike.  He got it.  Truth be told, I didn't want it.  As I "grew up", I realized that it was uncomfortable as hell after 45 minutes (full on sport bike).  I'm more of a sport touring rider now.

I traded up, on bikes and husband.  It's all good.

Good luck on the new ride search.  With a twist of the wrist, many of life's problems can be solved.....  :-)